Teekay (TK) Trading Down 6.3%

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Teekay Co. (NYSE:TK)’s share price was down 6.3% during mid-day trading on Tuesday . The stock traded as low as $3.52 and last traded at $3.58. Approximately 1,099,048 shares were traded during trading, an increase of 15% from the average daily volume of 959,105 shares. The stock had previously closed at $3.82.

Several equities analysts have issued reports on TK shares. ValuEngine upgraded shares of Teekay from a “sell” rating to a “hold” rating in a research note on Monday, November 26th. Bank of America started coverage on shares of Teekay in a research note on Monday, October 22nd. They set a “buy” rating and a $8.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of Teekay from a “sell” rating to a “hold” rating in a research note on Friday, December 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $7.50.

The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.58. The company has a market cap of $383.66 million, a PE ratio of -2.93 and a beta of 1.09.

Teekay (NYSE:TK) last issued its quarterly earnings data on Thursday, November 15th. The shipping company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.22). Teekay had a negative return on equity of 2.07% and a negative net margin of 4.84%. The business had revenue of $325.66 million during the quarter, compared to the consensus estimate of $311.22 million. Equities analysts forecast that Teekay Co. will post -0.52 earnings per share for the current year.

Several large investors have recently modified their holdings of the company. Virtu Financial LLC lifted its stake in shares of Teekay by 60.8% in the 3rd quarter. Virtu Financial LLC now owns 21,068 shares of the shipping company’s stock worth $142,000 after purchasing an additional 7,962 shares during the period. Vanguard Group Inc raised its stake in Teekay by 2.2% during the 3rd quarter. Vanguard Group Inc now owns 405,584 shares of the shipping company’s stock worth $2,733,000 after acquiring an additional 8,623 shares during the period. BlueMountain Capital Management LLC raised its stake in Teekay by 120.1% during the 2nd quarter. BlueMountain Capital Management LLC now owns 18,577 shares of the shipping company’s stock worth $144,000 after acquiring an additional 10,135 shares during the period. Teachers Advisors LLC raised its stake in Teekay by 9.1% during the 3rd quarter. Teachers Advisors LLC now owns 129,576 shares of the shipping company’s stock worth $873,000 after acquiring an additional 10,762 shares during the period. Finally, Independent Advisor Alliance raised its stake in Teekay by 40.3% during the 2nd quarter. Independent Advisor Alliance now owns 45,100 shares of the shipping company’s stock worth $350,000 after acquiring an additional 12,950 shares during the period. Hedge funds and other institutional investors own 23.60% of the company’s stock.

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About Teekay (NYSE:TK)

Teekay Corporation provides crude oil and gas marine transportation; offshore oil production; and storage and offloading services in Bermuda and internationally. It operates shuttle tankers, floating storage and offloading (FSO) units, HiLoad dynamic positioning units, and long-distance towing and offshore installation vessels, as well as offers offshore accommodation, storage, and support for maintenance and modification projects.

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